At the General Assembly of the Geneva Association held 28-31 May 2008 in Hamilton, Bermuda, the CEOs of the world's leading insurance and reinsurance companies decided to launch a new research project on climate change and its economic impact on insurance (CC+I). This initiative reflects one of...

Insurers and banks are both suppliers of financial services and constitute together thebulk of the financial services industry. As such, they share certain common traits and,consequently, are often analyzed together. At the same time, they differ markedly in certainrespects, insurance and...

Strict liabilities prevails at major accidents. According to the Polluter Pays Principle,l it is the liable party who pays for any damage. The accidents may be very large, however, compared to the assets of the liable plant owner. The liable party may, therefore, simply go bankrupt and leave the...

Several of the risks currently faced by corporations are shaped by legal rules. Liability rules, for instance, determine the cases in which firms will incur economic losses, either because thay are obliged to compensate for the harm suffered by others, or because they are inflicted monetary...

In den Basler Konsultationspapieren wird empfohlen, die Ausfallwahrscheinlichkeiten der einzelnen Ratingklassen eines Ratings mit den beobachten Ausfallquoten ex post zu überprüfen... Dies führt zu dem statistischen Standardtest auf Anteilswerte, der in einführender statistischer Literatur...

The idea of using common Posson shock processes to model dependent event frequencies is well known in the reliability literature. In this paper we examine these models in the context of insurance loss modelling and credit risk modelling...

This report contains recommendations for improving the public disclosure practices of financial intermediaries ...

The insurance sector and other sectors of the financial services industry are potentially at risk of being misused for money laundering and the financing of terrorism ...

Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macro-economic role and risks of insurance markets are surprisingly limited. The core motivation for publishing this book is to bring together academics,...